Preheat oven 425 degrees F. and line 6 muffin tins with paper liners. To prevent the liners from sticking to the muffins, lightly spray with non-stick cooking spray.
In a small mixing bowl, combine butter, oil, and both sugars until the mixture is smooth. Add in the egg, baking powder, baking soda, nutmeg, cinnamon, salt, and vanilla and continue mixing.
Stir in half of the flour followed by all of the milk and then the other half of the flour and continue to mix until thoroughly combined, but careful not to over mix.
Spoon the mixture into the muffin wells until they are almost full and bake for 10 to 15 minutes or until a toothpick comes out clean.
Allow the muffins to cool and prepare the glaze by whisking all of the ingredients together until smooth. Dip the muffin tops into the glaze and allow the glaze to harden/set. If you would like a sweeter muffin…then you may double-dip your muffins twice.
Make the Glaze by combining 1 ½ tablespoons butter, ½ cup powdered sugar, ½ teaspoon vanilla, and 1 tablespoon hot water.
The muffins can be kept in an airtight container for a day or two for the freshest enjoyment.